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Car insurance in the United States

Car insurance in the U.S. - Statistics & Facts

As of 2015 there were over 268 million registered vehicles on the roads in the United States. Of those millions of registered vehicles, each year there are also millions of vehicle crashes. In 2015, there were 32,166 fatalities, 1,715,000 injuries and 4,548,000 car crashes which involved property damage. Of these fatalities, there are far more driver deaths, than passenger, pedestrian or motorcyclist deaths. So while many of us feel secure in our vehicles, the statistics indicate the importance of automobile insurance and in most cases, auto insurance is required by law. Auto insurance is important because it not only covers any physical damage that may occur in an accident, but also any damage or injury that might be caused because of a vehicular accident or which may be done upon oneself or one’s vehicle by another vehicle or accident – a falling tree for example.

Of course, auto insurance comes at a cost to the car owner and the younger the owner the more expensive car insurance typically is. In 2016, the average cost of car insurance for 19 year old males was around 2,154 U.S. dollars and for 19 year old females it was around 1,930 U.S. dollars. The price of car insurance drops significantly as people get older and the gap in price between the genders also levels out. There are also geographical differences when it comes to the price of auto insurance. For instance, the most expensive state for auto insurance in the United States was Michigan. In Michigan, the average cost of auto insurance was 2,551 U.S. dollars in 2017.

Most Americans get their car insurance from a captive agency; however an increasing number of people now get car insurance from direct response where no insurance agents are involved. A 2017 survey showed that consumers remain skeptical of peer-to-peer car insurance with only just over a quarter of the respondents stating that they trust it.

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